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Thanks Dan if you get both banks giving the go ahead that could trigger a share price increase to trigger the second lot of warrents plus obviously would be easy to get a longer line of credit if lenders see that a mine is going ahead.
As for conditional, agreements are always conditional and obviously bank agreements are conditional on other members of the consortium still being happy to go ahead but the message being given out is that basically the other members were already happy and were just waiting on the banks.
The last paragraph says it all rob...anticipated and contingent...get out of jail words ...Harry is actually saying that they are taking the p... now and he will concentrate on saudi now until July Aug sept when the spin will start...they have no intentions of starting this project for a long time yet...he's on the ground talking to the community...I thought he done that a fair while ago with pictures...same old
Rob;
I know we all wanted today’s RNS to state everything was signed off, but knowing the lead bank has signed off “conditional final credit committee approval” is fantastic news. The fact that it’s “conditional” I don’t believe is an issue at all. All larger financial agreements are conditional.
FWIW, TW thinks a placement is unlikely with more TK news due in weeks.
Dan
"The project is expected to have a substantial economic impact, offering employment opportunities to approximately 1,000 local residents within the first year and significantly boosting Ethiopia’s export earnings. AS"
Danner struggling to keep have not even touched on Saudi developments today listening to the conference while researching at the same time but missed the earliest sessions but looking forward to 1.15 GMT Hosking tomorrow.
https://addisstandard.com/news-kefi-gold-moves-closer-to-secure-crucial-funding-for-ethiopias-tulu-kapi-gold-project/
Rob:
Another great find.
Please keep up the good work, you keep most lth's sane!
Https://www.ethioembassy.org.uk/ethiopia-uk-ties-to-enter-new-era/
Ethiopia and United Kingdom (UK) have finalized to ink the Memorandum of Understanding (MoU) to scale up the diplomatic ties to strategic partnership level, said Ethiopian Ambassador to UK.
As to him, the UK government pledged to increase its development aid from 80 million Euro to 200 million in 2024. This all are indicators of scaling up of bilateral ties of the two countries. The UK investment in Ethiopia accounts 20% of foreign investment when compared to other countries. The UK investors are showing an interest to invest in mining, energy, pharmaceutical and manufacturing sector.
Hence, the UK banks are conducting a study to join Ethiopia’s financial sectors when it opened. Moreover, experienced contractors in the sector are showing their keen interest to be part of the construction of the Ethiopian airlines planned to build a new airport, Ambassador stated.
https://www.ethioembassy.org.uk/trade-investment/ (Scroll down a bit of the page)
https://www.zawya.com/en/press-release/africa-press-releases/ethiopia-united-kingdom-uk-ties-to-enter-new-era-nc57orhg
The UK government recently launched zero-tariff and tax opportunity for Ethiopia and other countries. “We hope to exploit UK’s growing market for export since Ethiopia has been working aggressively on agriculture, manufacturing and agro-processing,” he added.
Not too much copy and paste, and we get to hear Kefi is treating victims of malaria.
I still believe they should have dug the fish pond as a good will gesture and I volunteered to drive the digger, I hope people remember this fact.
Todays Bank approval is a KEY piece of the project getting moving, the partners involved will be moving apace now IMO and i think we will see the mm,s start to price this more fairly. At end of this quarter i will be shocked if we not trading back over 1.2p levels and into the 1.2p - 1.7p trading range.
Many folks will want a piece of this given the discount to the asset value of TK let alone the even bigger Saudi play IMVHO
Dv you’ve heard of the lassonde curve well this is the HA curve. 😂
Any money come in yet ?
Dv 😂
My holding is treble what I thought it was I’d forgot I have some in my isa 6 in total now 🤔 if I can double it I’ll buy you a coffee mate. Good luck
Any money come in yet ?
This s.p. is held back by not knowing the real picture.Today we were handed a very important piece of the jigsaw....With every piece of the jigsaw we are handed the picture becomes clearer. In a few months we shall look back and think,how,on earth was it possible to buy so cheaply in January?...Multibag ,a very big Multibag opportunity ,in my opinion.
Proactive Investor Comments *
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) has received confirmation of conditional final credit committee approval from the lead lender on the US$320 million finance package for the Tulu Kapi gold project in Ethiopia.
Other key syndicate members including lead contractors and lead equity parties had all already given conditional approval. KEFI said it is now undertaking a social engagement programme with the local community alongside detailed definitive documentation for signing between the project syndicate financiers. A full project launch, including funding drawdown, is on course for the first half of this year subject to final approvals.
Harry Adams, Kefi’s executive chairman, said: "The Ethiopian government and the lead syndicate members of our high-grade Tulu Kapi Gold Project have been working hard to support our project launch."By the end of 2023, we had updated all independent technical due diligence and reaffirmed conditional approvals by all lead members of the Project syndicate, including conditional final credit committee approval of the lead lender.
"This has now given us the confidence to trigger preparations for Project launch, including progressing the approvals by the other syndicate members, preparing security and community.”
Manu, I sense you (and your 'mates' lol) are getting increasingly worried that this project might actually happen by the number of posts over the past few weeks. Come and join us.....double your shareholding...live dangerously....
Yep - Previously reported current quarter (in October 23) i,e by Dec 2023, now H1 i,e, up to End June 2024.
Still invested - but I'm also invested in others which I'm sure will come good sooner than End June 24.........so?
Yep pedro, having read the RNS in detail I agree that this is now on the verge of sign off (imo). Bought a few more today (missed the sub 0.6p prices!) to add to an otherwise substantial holding and will now sit and wait.......
Looks like they were filling some big orders earlier, some big buyers being filled at mates rates ? remember TK is worth multiples of current SP and their Saudi assets are even better :-) this could explode out the blocks when the mm,s let it go IMVHO
A no brainier at this ridiculously low s.p. Finance about to be sorted....Should lead to a Multibag very quickly....Plenty of buying going on....and no wonder!
Simms ,correct this approval by the bank is they key that many of the parties were waiting for, and it now de-risks KEFI on this project ,buyers will be all over this shortly IMO when this news sinks in. It would not suprise me at all if we finish over 0.70p today and have another decent rise tomorrow. Many folks that have been on sidelines here waiting will be buying at these bargain levels ahead of an expected significant re-rate.
Im adding :-)
HtTps://www.futuremineralsforum.com/conference/conference-program/ think this is the next one should be a good presentation.
13:05 - 13:20
Presentation: Mining with a greater purpose and powering great ideas
Robert Friedland
Robert Friedland
Founder & Executive Co-Chairman
Ivanhoe Mines
News will build this month but key is we have RNS confirming debt finance in place subject to some details so lawyers, as i suggested, would take a view and make funding subject to these small details, that arguably cant happen until bank has formally agreed. Now lead bank has confirmed funding all other parties can fall into place. This RNS is far better because it confirms what we have been told anecdotally but now we presumably have a formal letter from bank allowing this to go through an RNS. Yes its a major pain this is not done years ago and certainly prior to Christmas but we have made a significant step forward and now other parties should quickly follow given the lead lender moves the whole party forward. This share will start to creep up today and into the following weeks as the news and subsequent news unfolds. As to placing we have short-term lending that csn last us easily 3-6 months and Harry knows importance of warrants being triggered so i i see that being the way forward.
Just to keep you on his hook what a bull-hitter he is.
From todays RNS !
“Full Project launch, including funding drawdown, is on course for H1 2024, subject to the satisfaction of all the standard conditions precedent for a transaction of this type, “
Must be something in the water people not understanding that kefi was confident even before today's good news hence the mobilising of teams to the site.
https://www.kefi-goldandcopper.com/expo-presentation/addis-adaba
Super news , kefi are now significantly de-risked now IMO and are in a strong position at TK :-) remember they still hold a huge stake in this prized asset so have multiple options on the future, i think this is the green light now for a significant re-rate and i would not be suprised to see this back over 1.2p before too long .
Talk of placings are way off the mark IMVHO and if anything they could raise funds at significant premium if they choose.
So basically, from reading the RNS they have just kicked the can down the road building in another 3 month delay.
Same old KEFi same old Harry.
PLACING ..............................